The Nikkei reported today that Japanese logistics firm AZ-COM Maruwa Holdings, an Amazon partner, plans to use the JPYC stablecoin for paying contractor drivers and partner firms. It said that the appeal is the ability to instantly transfer and settle in cash, a useful tool in the competition to attract drivers. But there may also be an additional reason.
Japan has been suffering from a shortage of drivers for some time, in part because of the aging population, but also the growing need to meet e-commerce delivery demands. The crisis is so severe that it has put pressure on logistics firms to scale back activities. Various organizations are exploring novel solutions, including standardizing road shipping pallets and creating a trunk system among other ideas.
Beyond making logistics more efficient to reduce the need for drivers, many trucking firms are also looking at alternative ways to source drivers, with autonomous driving being one path. Another route is to bring in foreign workers, which many firms are pursuing. So in addition to converting the stablecoin to cash, it could also be converted to a US dollar stablecoin and instantly remitted to the driver’s home country.
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